WMS Partners LLC Cuts Stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN)

WMS Partners LLC reduced its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 32.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 62,861 shares of the company’s stock after selling 30,000 shares during the quarter. WMS Partners LLC’s holdings in Ryan Specialty were worth $3,489,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nebula Research & Development LLC purchased a new position in shares of Ryan Specialty in the 4th quarter worth about $1,284,000. Capstone Investment Advisors LLC purchased a new stake in Ryan Specialty during the first quarter valued at about $727,000. Embree Financial Group purchased a new stake in Ryan Specialty during the first quarter valued at about $1,701,000. Geneva Capital Management LLC lifted its holdings in Ryan Specialty by 12.0% during the first quarter. Geneva Capital Management LLC now owns 475,552 shares of the company’s stock valued at $26,393,000 after purchasing an additional 50,947 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in Ryan Specialty during the fourth quarter valued at about $1,075,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Stock Up 2.7 %

Shares of NYSE:RYAN traded up $1.64 on Tuesday, hitting $61.74. 1,300,881 shares of the company traded hands, compared to its average volume of 896,294. Ryan Specialty Holdings, Inc. has a 52 week low of $41.49 and a 52 week high of $62.68. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99. The stock has a 50 day simple moving average of $56.63 and a 200-day simple moving average of $52.29. The company has a market cap of $16.08 billion, a PE ratio of 116.49, a PEG ratio of 1.57 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Ryan Specialty had a return on equity of 45.87% and a net margin of 9.15%. The firm had revenue of $552.00 million during the quarter, compared to the consensus estimate of $549.06 million. During the same period last year, the company earned $0.26 earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. As a group, research analysts expect that Ryan Specialty Holdings, Inc. will post 1.77 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a $0.11 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.44 annualized dividend and a yield of 0.71%. Ryan Specialty’s payout ratio is 83.02%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company downgraded shares of Ryan Specialty from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $58.00 to $60.00 in a report on Thursday, July 11th. JMP Securities reaffirmed a “market perform” rating on shares of Ryan Specialty in a report on Monday, April 15th. Wolfe Research downgraded shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a report on Monday, May 6th. UBS Group upped their price objective on shares of Ryan Specialty from $63.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $62.00 price target on shares of Ryan Specialty in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.50.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.